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DIVO vs. PBP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DIVO vs. PBP

Last updated Jun 23, 2026

DIVO (Amplify CWP Enhanced Dividend Income ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both Derivative Income funds. DIVO is actively managed, while PBP is passively managed. Over the past 5 years, DIVO returned 11.01%/yr vs 7.94%/yr for PBP. A 0.59 correlation means they provide meaningful diversification when combined. DIVO charges 0.56%/yr vs 0.29%/yr for PBP.

Performance

DIVO vs. PBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP Enhanced Dividend Income ETF (DIVO) and Invesco S&P 500 BuyWrite ETF (PBP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DIVO achieves a 5.44% return, which is significantly higher than PBP's 5.07% return.

DIVO

1D
0.26%
1M
0.01%
YTD
5.44%
6M
4.30%
1Y
18.55%
3Y*
15.16%
5Y*
11.01%
10Y*
—

PBP

1D
-0.18%
1M
0.92%
YTD
5.07%
6M
5.25%
1Y
17.59%
3Y*
11.87%
5Y*
7.94%
10Y*
7.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DIVO vs. PBP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DIVO
Amplify CWP Enhanced Dividend Income ETF		5.44%17.40%16.22%6.95%-1.46%22.87%12.40%24.90%-3.18%21.41%
PBP
Invesco S&P 500 BuyWrite ETF		5.07%8.49%19.83%11.59%-11.82%19.97%-3.31%14.60%-5.57%11.98%

Correlation

The correlation between DIVO and PBP is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.58

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Dec 14, 2016

0.59

The correlation between DIVO and PBP has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

DIVO vs. PBP - Sectors Allocation Comparison

Sectors
DIVO
PBP

Financial Services

30.3%
11.1%

Industrials

16.1%
7.8%

Technology

14.6%
39.0%

Consumer Cyclical

10.9%
9.9%

Consumer Defensive

7.4%
4.5%

Energy

7.0%
3.1%

Healthcare

6.8%
8.3%

Basic Materials

4.3%
1.7%

Utilities

1.9%
2.1%

Communication Services

1.0%
10.6%

Real Estate

-

1.8%

Financial Services

DIVO
30.3%
PBP
11.1%

Industrials

DIVO
16.1%
PBP
7.8%

Technology

DIVO
14.6%
PBP
39.0%

Consumer Cyclical

DIVO
10.9%
PBP
9.9%

Consumer Defensive

DIVO
7.4%
PBP
4.5%

Energy

DIVO
7.0%
PBP
3.1%

Healthcare

DIVO
6.8%
PBP
8.3%

Basic Materials

DIVO
4.3%
PBP
1.7%

Utilities

DIVO
1.9%
PBP
2.1%

Communication Services

DIVO
1.0%
PBP
10.6%

Real Estate

DIVO

-

PBP
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Amplify CWP Enhanced Dividend Income ETF

Invesco S&P 500 BuyWrite ETF

Often compared with DIVO:
DIVO vs. JEPIDIVO vs. SCHDDIVO vs. QDVODIVO vs. JEPQDIVO vs. IDVODIVO vs. DGRODIVO vs. DIV
Often compared with PBP:
PBP vs. SPYPBP vs. XYLDPBP vs. JEPIPBP vs. VOOPBP vs. SCHDPBP vs. FTHIPBP vs. JEPQ

Return for Risk

DIVO vs. PBP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DIVO
DIVO Risk / Return Rank: 6464
Overall Rank
DIVO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
DIVO Sortino Ratio Rank: 6868
Sortino Ratio Rank
DIVO Omega Ratio Rank: 6060
Omega Ratio Rank
DIVO Calmar Ratio Rank: 6565
Calmar Ratio Rank
DIVO Martin Ratio Rank: 6464
Martin Ratio Rank
PBP
PBP Risk / Return Rank: 8282
Overall Rank
PBP Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
PBP Sortino Ratio Rank: 8484
Sortino Ratio Rank
PBP Omega Ratio Rank: 8989
Omega Ratio Rank
PBP Calmar Ratio Rank: 7070
Calmar Ratio Rank
PBP Martin Ratio Rank: 8686
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIVO vs. PBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP Enhanced Dividend Income ETF (DIVO) and Invesco S&P 500 BuyWrite ETF (PBP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

DIVOPBPDifference
Sharpe ratioReturn per unit of total volatility
2.02
2.48

-0.45

Sortino ratioReturn per unit of downside risk
2.99
3.58

-0.59

Omega ratioGain probability vs. loss probability

1.35

1.54

-0.19

Calmar ratioReturn relative to maximum drawdown

3.13

3.38

-0.25

Martin ratioReturn relative to average drawdown

11.22

17.60

-6.38

DIVO vs. PBP - Sharpe Ratio Comparison

The current DIVO Sharpe Ratio is 2.02, which is comparable to the PBP Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of DIVO and PBP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DIVO vs. PBP - Drawdown Comparison

The maximum DIVO drawdown since its inception was -30.04%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for DIVO and PBP.

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Drawdown Indicators

DIVOPBPDifference

Max Drawdown

Largest peak-to-trough decline

-30.04%

-43.43%

+13.39%

Max Drawdown (1Y)

Largest decline over 1 year

-5.95%

-5.22%

-0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-12.12%

-15.42%

+3.30%

Max Drawdown (5Y)

Largest decline over 5 years

-13.72%

-18.61%

+4.89%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.31%

—

Current Drawdown

Current decline from peak

-1.56%

-0.40%

-1.16%

Average Drawdown

Average peak-to-trough decline

-2.60%

-6.68%

+4.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.66%

1.00%

+0.66%

Volatility

DIVO vs. PBP - Volatility Comparison

Amplify CWP Enhanced Dividend Income ETF (DIVO) has a higher volatility of 2.95% compared to Invesco S&P 500 BuyWrite ETF (PBP) at 2.30%. This indicates that DIVO's price experiences larger fluctuations and is considered to be riskier than PBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DIVOPBPDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.95%

2.30%

+0.65%

Volatility (6M)

Calculated over the trailing 6-month period

7.14%

5.93%

+1.21%

Volatility (1Y)

Calculated over the trailing 1-year period

9.22%

7.15%

+2.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.95%

11.88%

+0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.83%

13.68%

+1.15%

DIVO vs. PBP - Expense Ratio Comparison

DIVO has a 0.56% expense ratio, which is higher than PBP's 0.29% expense ratio.

Dividends

DIVO vs. PBP - Dividend Comparison

DIVO's dividend yield for the trailing twelve months is around 6.42%, less than PBP's 12.26% yield.

PositionTTM20252024202320222021202020192018201720162015
DIVO
Amplify CWP Enhanced Dividend Income ETF		6.42%6.44%4.70%4.67%4.76%4.79%4.91%8.16%5.27%3.83%0.00%0.00%
PBP
Invesco S&P 500 BuyWrite ETF		12.26%11.12%9.36%3.35%1.33%6.21%1.41%5.04%2.59%10.86%2.56%6.19%

Frequently Asked Questions

DIVO and PBP have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DIVO has higher volatility (2.95%) compared to PBP (2.30%). In terms of maximum drawdown, DIVO dropped -30.04% vs PBP's -43.43%.

On 5-year performance, DIVO leads with 11.01% vs 7.94% for PBP. On fees, PBP is cheaper at 0.29% per year. On volatility, PBP has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DIVO has performed better with a 11.01% return vs 7.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PBP is cheaper with a 0.29% expense ratio, compared with 0.56% for DIVO.

PBP has the higher dividend yield at 12.26%, compared with 6.42% for DIVO.

They also come from different issuers: Amplify and Invesco. Their fees differ too: 0.56% for DIVO and 0.29% for PBP.

PBP currently has the higher Sharpe Ratio (2.48 vs 2.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

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